Honeywell Aerospace began operating today as an independent public company following its spin-off from Honeywell International Inc., placing the company’s avionics, navigation, engines, power systems and aircraft control businesses under a stand-alone aerospace and defense supplier.
Phoenix-based Honeywell Aerospace launches with more than 36,000 employees and supports more than 10,000 customers worldwide, according to the company. The company’s aviation portfolio includes systems used for aircraft navigation, cockpit operations, power generation and aircraft control.
“Today marks the start of a new era for Honeywell Aerospace,” Jim Currier, chief executive officer of Honeywell Aerospace, said. “As an independent aerospace and defense company, we are fully dedicated to our mission to protect and advance the promise of flight to create a safer, more connected world.”
The spin-off was completed through a distribution of Honeywell Aerospace common stock to Honeywell Technologies shareholders. Honeywell Aerospace began trading today on Nasdaq under the ticker symbol HONA. Honeywell Technologies, which continues to trade under HON, said separately that it has completed a 1-for-2 reverse stock split and now operates as a pure-play automation company.
